Flagship property retains market-leading status among global companies
New York, NY – August 30, 2012 – Mitsui Fudosan America, Inc. (MFA), the U.S. operations of Japan’s largest real estate company, announced today that it signed a 70,000-square-feet lease renewal with Rothschild North America Inc. at its flagship property at 1251 Avenue of the Americas, New York, NY. Rothschild has been a tenant of MFA since 1993 and with the renewal it plans to stay through to 2028. With the renewal, Rothschild will relocate from the 44th and 51st floors to the 33rd and 34th floors.
“We are pleased to have Rothschild for another 15 years,” said Yukio Yoshida, President and CEO of MFA. “1251 Avenue of the Americas has continued to attract and retain top echelon tenants, which reflects our on-going commitment to manage, maintain and upgrade the property to meet the needs of our tenants.
” Prior to this most recent renewal, MFA has also achieved significant new lease agreements. In 2010, new leases were signed with Natixis for 180,000-square-feet and Sandler O’Neill & Partners for 75,000-square-feet underscoring 1251 Avenue of the Americas’ unique ability to attract premier tenants. “The Rothschild deal is one of only a few major lease renewal transactions by a financial services firm in New York this year,” said Christopher N. Perez, Senior Vice President of MFA. “We could not be more pleased by Rothschild’s selection of 1251 Avenue of the Americas.”
1251 Avenue of the Americas is a premier property and a highly desired location for a wide range of U.S. and international businesses. The building’s highly desirable location, amenities, and the investment in upgrades made by MFA has resulted in numerous long-term lease renewals by several tenants over the last decade. These include The Bank of Tokyo-Mitsubishi UFJ (renewed in 2008), Merrill Lynch (renewed in 2007), Mizuho Corporate Bank (renewed in 2006) and DLA Piper (renewed in 2005).
Since 2005, MFA has been engaged in an initiative to expand and refine its portfolio of commercial properties in major business centers such as San Francisco, Los Angeles, Washington D.C., Boston, Chicago and New York. Six acquisitions have been made to date. In New York, these include 100 William Street and 527 Madison Avenue. In January of 2012, Mitsui Fudosan America acquired the Homer Building, a landmark office property of nearly 422,000-square-feet located in the heart of Washington, D.C.
About Mitsui Fudosan America
Mitsui Fudosan America, Inc. (MFA) is a real estate investment and development company headquartered in New York, NY. MFA is the U.S. subsidiary of Mitsui Fudosan Co., Ltd. Japan’s largest publicly quoted real estate company. MFA’s history in the U.S. markets dates back to the early 1970’s and includes its acquisition and redevelopment of the renowned Halekulani Hotel in Waikiki, Hawaii, with additional investments in San Francisco, Los Angeles, San Diego, Washington, D.C., Chicago and New York. MFA’s flagship commercial property is located in Rockefeller Center at 1251 Avenue of the Americas in New York, one of the city’s most prestigious business addresses.
Montieth & Company